While maintaining its 'neutral' position on LVMH, UBS has raised its target price from €747 to €760, a new target that offers an 11% upside potential for the world's number one luxury goods company, the day after its publication.

LVMH has achieved a solid end to 2023, buoyed by better-than-expected cost control", acknowledges the broker, who nevertheless cites limited short-term visibility and margin growth potential.

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